FT News Briefing Ben & Jerry’s bitter battle with Unilever
Aug 12, 2022
U.S. lawmakers are moving forward with a massive $700 billion spending bill amidst a crisis in the IPO market and a slowdown in European corporate bond activity. Meanwhile, Ben & Jerry's is embroiled in a heated legal battle with parent company Unilever over sales impacted by political tensions in the West Bank and East Jerusalem. This conflict highlights the clash between corporate ethics and financial pressures, as Ben & Jerry's advocates for social responsibility against Unilever's broader commercial interests.
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Market Slowdown
- European corporate bond markets have slowed significantly due to economic uncertainty and rising borrowing costs.
- The U.S. IPO market is shut down, with equity capital markets bankers unusually pessimistic.
Ben & Jerry's vs. Unilever
- Ben & Jerry's, known for its progressive politics, decided to stop selling ice cream in the West Bank and East Jerusalem.
- Unilever, Ben & Jerry's parent company, disagreed with this move and sold its Israeli business, leading to a legal battle.